Posted on 01/08/2015 8:29:52 AM PST by SeekAndFind
WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell last week and job cuts declined sharply in December, suggesting the labor market is tightening.
Thursday's reports support views of faster growth this year, driven by consumer spending, despite a faltering global economy.
"Labor market conditions continue to improve, providing support for consumers and contributing to a virtuous cycle for the economy," said Jim Baird, chief investment officer at Plante Moran Financial Advisors in Kalamazoo, Michigan.
Initial claims for state unemployment benefits slipped by 4,000 to a seasonally adjusted 294,000 for the week ended Jan. 3, the Labor Department said.
While that was a bit less than Wall Street's expectations of a drop to 290,000, the trend in claims remained consistent with a steadily tightening labor market. At current levels, claims probably have little room to fall further.
"Claims have never dropped below the 280,000-290,000 range in the last 20 years, reflecting the reality that a certain number of layoffs is a natural part of the growth/lifecycle of companies even in the best of times," said Anthony Karydakis, chief economic strategist at Millar Tabak in New York.
(Excerpt) Read more at finance.yahoo.com ...
Yes, and if they are part time and making less than half with no benefits, then laid off....their unemployement is so low...that forces them onto Medicaid and food stamps. The intended idea from this Administration.
“the total number of jobs could also be the lowest in 17 years”
You can’t possibly be serious.
There are now approximately 140 million employed in the US.
As of 1997? About 124 million.
http://data.bls.gov/pdq/SurveyOutputServlet
The number of jobs isn’t just not “the lowest in 17 years,” it’s actually at an all-time high.
Tax withholding is also at an all-time high, and that’s actual cash collected, as reported daily by the Treasury. Not subject to any statistical shenanigans by anyone.
https://www.fms.treas.gov/dts/index.html
What you and the rest of the knee-jerk economic illiterates on this thread fail to realize is that the economy is doing fairly well, despite the worst efforts of jug-ears.
Why? Republicans took the House in 2010. Never mind Boehner or McConnell or any lack of spine.
The useless golfer has been totally stymied by the House for 4 years — the end of extended unemployment benefits and the budget sequester brake on spending growth did the job.
Growth should be a lot better than it is, but we have survived and overcome the ongoing disaster that was and is President Chickenshit.
Try as he might, the bumbling idiot in the White House hasn’t been able to stop the American people from doing what they do best.
Now we have the Senate, too. His agenda isn’t just totally dead, the doofus now will be forced to actually veto what the public wants, bill after bill to the detriment of any and every Democrat running in 2016.
Only better years lie ahead.
well i know they juggle to make things look better than they are but think of this. Lower layoffs are a result of companies making due with fewer and fewer workers. Without new industries there won’t be more hiring. We could have zero layoffs and thats not necessarily a positive.
Federal bookkeeping.
It’s mostly part time jobs due to Obamacare.
Companies ditch full timers and hire two part time workers.
The stats don’t pick this up.
DELIBERATELY
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